Established in 2014, Bangalore-based Nobroker turned a unicorn in November 2021. The startup’s motto is to allow customers to complete safe and seamless real estate transactions. It is building its business as a one-stop shop for all real-estate-related needs.
The company’s marketing strategy of reducing the concerns and worries associated with using middlemen has worked in its favour. It claims to handle $2 billion worth of annual transactions on its platform besides helping its customer save massive brokerage fees.
Attractive Points of Nobroker’s Marketing Strategy
- Doing away with the middlemen by connecting property owners with buyers and tenants directly.
- Using latest technology (AI and ML) to including features like AMP/PWA, WhatsApp chat feature and provide rent predictions.
- Ensuring adequate demand and supply by entering into strategic alliances with real estate developers and corporates.
- Providing a bouquet of services such as rental agreements, mover and packer services, home loans, interiors, relocation services, and remote property management services besides facilitation of online rent payments.
- Offering useful services like painting, cleaning, home sanitization, pest control, carpentry, plumbing, and ac repair services to their customers.
- Offering a wide range of furniture to buy and rent. The services also include installation and free relocation of the furniture.
- Launching NoBrokerHood, a society managing and accounting platform.
Revenue Model
NoBroker earns its revenues through the plethora of services offered by it. The company provides a subscription business model to customers looking to buy, sell or rent a property. The company reported FY21 revenues of Rs 166.6 crore and losses of Rs 189.6 crore as compared to previous year’s figures of Rs 63.4 crore and Rs 79.2 crore, respectively. It aims to turn cash flow positive by FY2025.
